Acreage Holdings, Inc. announced that it has implemented further changes to its leadership and oversight in preparation for the completion of its previously announced strategic arrangement (the Floating Share Arrangement) with Canopy Growth Corporation (Canopy) and Canopy USA, LLC (Canopy USA). In connection with this, Acreage's Board of Directors has elected to implement a streamlined governance structure that is appropriately sized for the company's near-term priorities. Katie J. Bayne, Patricia Lopez, Douglas L. Maine, and Steven Strom have elected to resign from the Board, effective immediately.

Acreage's Board will now be comprised of: Kevin P. Murphy, Founder and Chair of the Board; Bill Van Faasen, who will now chair the Audit Committee; John A. Boehner, who will now chair the Compensation and Corporate Governance Committee; Brian Mulroney; and Peter Caldini, who will step down from the role of Chief Executive Officer on June 30, 2023, as previously announced on June 2, 2023, and will resign from the Board on the same date.